Some short term indicators got a little overdone. Is this just a gap fill, or is this run getting “Tired” and due for a little more downside?
We had a similar pullback last time, it lasted 1 day, then we popped a bit higher . It was then overdone and time to consolidate.
Now , however, We may be close to a more meaning full pullback soon…. it has been a nice run for the past 3 months. Cautiously lightening up (remove leverage) , watch support is prudent. I will let my positions ride in case we just test the break out & M.A.’s , or just gap fill, but then thats it.
If we get another good POP upwards…it is time to hit the sidelines and wait for another opportunity I.M.O.